Latest Crypto Update: Stellar, Dogecoin and Ripple (XRP) Market Developments


Today we look at three major crypto projects: Stellar Lumens (XLM), Dogecoin (DOGE) and Ripple (XRP). We will analyse their latest news and price trends.

Starting with XLM, it has had the best performance in the last 24 hours, rising 8% to a price of USD 0.12. This has increased its market capitalisation to $3.4 billion, with a daily trading volume of $170 million. It has 27.5 billion shares outstanding, with an average holding period of 49 days, making it the 17th most popular exchange.

The other two cryptos have not had as good a week. XRP’s price has remained flat at USD 0.50, its market cap stands at $26.6 billion and daily trading volume at $793.3 million. Its outstanding supply is 53 billion with an average holding period of 51 days, making it the 4th most popular stock.

Dogecoin has also maintained price stability at USD 0.0632, with a capitalisation of USD 8.9 billion and daily trading volume of USD 180.1 million. The outstanding supply is 140.9 billion with an average holding period of 101 days, putting it in 7th place in terms of popularity.

Now to the latest news on these assets. Elon Musk recently responded to a tweet by Billy Markus, aka Shibetoshi Nakamoto, the founder of Dogecoin, regarding a drastic reduction in his earnings. Markus revealed that his recent social media earnings had dropped to a third of what they had been in the previous two weeks. Musk responded that the fluctuation was likely due to the “beta code” nature of the platform’s revenue sharing algorithm. This highlights the complexity of monetisation algorithms, as well as ethical considerations of influential figures such as Musk, who are influencing market dynamics.

Ripple has also made a major cryptocurrency transfer to the Bitstamp exchange. This has the potential to fuel the growth and expansion of both Ripple and the exchange, and could potentially translate into positive price momentum for XRP. The cryptocurrency community will be closely following the implications of this move and subsequent developments within Bitstamp.

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